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NPA to receive shiploads of petroleum products and food items in Lagos port

The Nigerian Ports Authority (NPA) will receive 16 ships laden with petroleum products, food items and other goods over the next 14 days.

According to its publication, `Shipping Position,’ which was released on Saturday, the receipts of the shipment will last from June 6 through June 20.

According to the publication viewed by NAN, the ships are expected to arrive at the Lagos Port Complex.

Among the expected items to be received are frozen fish, base oil, general cargo, bulk salt, bulk clinker, butane gas, bulk wheat and soya beans.

The NPA also noted in its publication that 23 ships had arrived the ports, waiting to berth with containers, general cargo and petrol, while 17 other ships were at the ports discharging containers, petrol, butane, bulk fertilizer, bulk wheat, general cargo and frozen fish.

What you should know

When the World Health Organisation declared COVID-19 a pandemic, and several industries started shutting down, the Nigerian government took the decision to leave Nigerian ports operation in line with stipulated guidelines.

This was done to prevent further contraction in the economy, as the economic implications of shutting down the seaports in an import-dependent economy were considered unsavory.

The government decided that, just like the food and healthcare sectors, the ports were to be considered essential too since there was a need to keep a steady import of foods, refined petroleum products, raw materials for the local industries, finished consumer goods and most importantly, drugs for the healthcare system.

Managing Director of the NPA, Hadiza Bala-Usman, also suspended applicable terminal storage fees on consignments for an initial period of 21 days effective 23 March, and agreed to fast-track the clearance of over 1,500 overtime cargoes as part of its efforts to promote ease of business.

How Bitcoin will hit $100,000?

For the flagship currency to hit $100,000, Bitcoin will need to have a market capitalization of $2.1 trillion. That is about a quarter of the market capitalization of gold.

According to Option trader, Theta Seek stated that for this incredible feat to happen is to envision consistent buying demand from retail investors. The trader said:

“At 100K per BTC, the market has to absorb a miner supply of $90 Million USD daily. Assuming that there are 10 million people worldwide buying BTC on a regular basis. It would cost them each $9 daily to sustain those price levels. I’ve met people who spend more than $9 on coffee.”

Theta Seek added that hodlers—a term used to define long time Bitcoin holders, most of them have not sold throughout the past three all-time highs of BTC, noting:

“Data suggests otherwise though, hodlers throughout the past three all-time highs have not been selling in significant portions. 60% of BTC has not moved for more than 2 years. Even if that were to be true, the longtime supply of BTC will eventually equal the mining (new) supply.”

Lagos state government has stated that businesses may not be allowed to open after 2 weeks unless they successfully obtain the provisional clearance certificate as directed.

The provisional clearance certificate is the final clearance given to businesses under the Register-to-open initiative, certifying that they have fulfilled all conditions as required and may now be allowed to commence operations in line with the given safety guidelines.

According to a tweet at the official twitter handle of the Lagos state government, business owners and managers who wish to commence operations must put in place the appropriate facilities and working environment to help contain the spread of the COVID-19.

“Appropriate screening equipment for COVID-19, such as contactless temperature checkers must be available for entrants into the facility; separate ingress and egress points must be conducted in a staggered and orderly manner,” the Director-General, Lagos State Safety Commission, Mr. Lanre Mojola said in the tweet.

Mojola added that relaxation centres such as bars, nightclubs, spas, gyms, cinemas and parks are to remained closed until further directives are given to them, after subsequent review of the situation.

However, social clubs with registered trustees will be permitted to open in two weeks’ time upon obtaining provisional clearance certificate, Mojola stated.

He stated that eateries and restaurants outside hotels are only permitted to offer take-out services as no dining activity will be tolerated.

Mojola emphasized that registration for the mandatory ‘Register-To-Open’ policy is at zero cost, easy and user friendly, urging that businesses that are yet to obtain the safety compliance certificates should ensure registration on the portal as stipulated and await their clearance.